The Fixed-Base Operator Market size is projected to reach US$ 53.45 billion by 2031 from US$ 24.45 billion in 2023. The market is expected to register a CAGR of 10.3% in 2023–2031. The escalating demand for hangaring services for wide body aircraft is likely to remain a key fixed-base operator market trend.
Fixed-Base Operator Market Analysis
At airports, the FBOs provide ground handle and fuelling services to the commercial airlines operating from the particular airport. The most important thing that the buyers are looking for is the smaller airfields with quick response of the FBO, as the purchasing power varies and impacts the margins on each gallon of fuel sold. For instance, Jet Aviation (subsidiary of General Dynamics), provides fuelling services to corporate, by following the ISAGO rules set for airport operations. The company also holds relevant license and certification training – FAR 139 fuel and fire safety, NATA safety first, and CDL. Similarly, Ascent Aviation Services offers full range of fuel services to private, commercial, and military aircraft. The company offers different fuel services such as Jet A, Jet A w/Prist, and 100LL, AV GAS services, military fuel, checking fuel quality compliant with ATA 103, 24-hour service, and de-Fuelling services.
Recently, in November 2022, IFS signed a multi-year agreement for jet fuel and FBO services at Pitt Meadows Regional airport in Canada wherein the company will set up full service FBO in the main airport terminal. Similarly, in June 2021, Signature Aviation announced the offering of Sustainable Aviation Fuel (SAF) to various customers at three different US airports namely - Austin-Bergstrom Int’l Airport in Austin, Houston-Hobby Airport in Houston, Texas, and the Norman Y. Mineta San Jose Int’l Airport in San Jose, California. The demand for SAF is consistently growing among the aviation companies to reduce carbon footprint, and owing to this, the Signature Aviation has strategized to offer SAF. This strategy is expected to boost Signature Aviation’s brand image, customer base, and revenues in the coming years.
Fixed-Base Operator Market Overview
The fixed-base operator market ecosystem comprises stakeholders, such as airport, fixed-base operator (FBO), and end users. The airport authority across the globe allocates space and permit the FBO to operate from their premises. In the current scenario, the airport authorities worldwide are actively participating in offering premises to different FBO in order to boost their year-on-year revenue generation. The fixed-base operator (FBO) offers different types of services such as hangaring, fueling, flight instructions, aircraft maintenance, and aircraft rental. The growing demand of business aviation and leisure aviation globally is supporting the growth of FBO market. The end user of this market are business aviation operators and leisure aviation operators. These aviation operators are robustly focusing on boosting the overall travel experience of the traveler whether it’s for business purpose or tourism purpose. The FBOs also offer fascinating additional services to their customers such as SPA, VIP lounges, and many more.
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Fixed-Base Operator Market: Strategic Insights
Market Size Value in US$ 25,194.55 Million in 2022 Market Size Value by US$ 37,177.46 Million by 2028 Growth rate CAGR of 6.7% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Fixed-Base Operator Market: Strategic Insights
| Market Size Value in | US$ 25,194.55 Million in 2022 |
| Market Size Value by | US$ 37,177.46 Million by 2028 |
| Growth rate | CAGR of 6.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Fixed-Base Operator Market Drivers and Opportunities
Increasing Expansion and Collaboration of FBO Companies
The top FBO companies are actively participating in offering robust FBO services to meet the consistently growing demand. In addition, these players invest substantial capitals in respective services to gain customer attraction with enhanced services. Also, the companies engage themselves in expanding their businesses to different geographies to increase their customer base. The significant rise in business aviation and leisure aviation in the past few years across the globe has led these players to offer their advanced services, which helped the companies to position themselves among the key players worldwide. For instance:
- In March 2022, Signature Aviation signed an agreement to acquire TAC Air and its 14 FBO units across different locations in the US.
- In June 2021, Signature Aviation introduced and announced permanent supply of Sustainable Aviation Fuel (SAF) at three airports: Austin-Bergstrom Int’l Airport in Austin, Houston-Hobby Airport in Houston, Texas, and the Norman Y. Mineta San Jose Int’l Airport in San Jose, California
High Potential for FBOs in Asia Pacific Region – An Opportunity in Fixed-Base Operator Market
The overall FBO market in APAC is witnessing slow growth as compared to other regions such as North America and Europe, which is mainly attributed to the presence of a smaller number of business as well as private jets across the region. The fixed-base operator market is observing decent growth in the Southeast countries such as Indonesia, Singapore, and Macau. The general aviation sector in APAC is expected to rise during the forecast period, which is also demanding the FBO service provider to offers enhanced services to the traveler. Currently, there are total 72 FBOs operating in Asia Pacific countries; of these, 23 are operating in Australia and serve a business aviation fleet of ~200 aircraft. The FBOs in Hong Kong operate with ~122 business jets. Tag Aviation has expanded its footprint in Macau in 2020, and it was the very first company to officially open its office in the region. Similarly, as per the survey conducted by the Aviation International News (AIN), in 2020, MJets FBO topped the list of FBOs operating in Asia Pacific, and it ranked seventh among the world’s top FBOs for the for fifth consecutive year. MJets operates in Thailand for only Private Jet Terminal and has its FBO facility at Bangkok’s Don Mueang International Airport. Thus, slow but promising increase in the number of FBOs in APAC is emerging as one of the significant opportunities for the growth of the fixed-base operator market players.
Fixed-Base Operator Market Report Segmentation Analysis
Key segments that contributed to the derivation of the fixed-base operator market analysis are services offered and application.
- Based on services offered, the fixed-base operator market is divided into hangaring, fuelling, flight training, aircraft maintenance, and aircraft rental. The fuelling segment held a larger market share in 2023.
- Based on application, the market is segmented into business aviation and leisure aviation. The business aviation segment held a larger market share in 2023.
Fixed-Base Operator Market Share Analysis by Geography
The geographic scope of the fixed-base operator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America.
In 2023, North America accounted for a major share of the global fixed-base operator market followed by Europe and Asia Pacific. High demand among customers and the widespread presence of fixed-base operator service providers in North America, especially in the US, boosted the growth of the fixed-base operator market. On the other hand, the APAC region is projected to showcase tremendous demand for FBOs in the upcoming years, thus, registering the highest CAGR during 2023 – 2031. This is due to the significant growth in the general aviation segment, particularly in Australia, China, and Southeast Asian countries.
Fixed-Base Operator Market Report Scope
Fixed-Base Operator Market News and Recent Developments
The fixed-base operator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- In September 2023, Dubai-based private aircraft flight support chain Jetex soft opened its new FBO at Al Bateen Executive Airport (Source: Jetex, Press Release)
- In February 2024, Signature Aviation opened a new FBO terminal at Florida's Key West International Airport (KEYW), where the company is the one and only aviation service provider serving the southernmost city in the US. (Source: Signature Aviation, Newsletter)
Fixed-Base Operator Market Report Coverage and Deliverables
The “Fixed-Base Operator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- Fixed-Base Operator Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Fixed-Base Operator Market trends
- Detailed Porter’s Five Forces
- Fixed-Base Operator Market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- Fixed-Base Operator Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Services Offered, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Malaysia, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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